25 May 2021, 9:00 am to 11:30 am (EST)
In the past year, the COVID-19 pandemic and the social and economic crisis it triggered has not only caused immeasurable suffering but could also derail global efforts to achieve the 2030 Agenda for Sustainable Development.
By bringing together issues related to investment, revenue, debt, illicit financial flows, technology and climate action, extractives industries stand at the nexus of the multiple economic crises caused by the pandemic. They should consequently form a core component of global response and recovery plans and are a key topic of discussion under the Initiative on Financing for Development in the Era of COVID-19 and Beyond (FfDI).
On 25 May 2021, United Nations Secretary-General António Guterres convened an online Global Roundtable on Extractive Industries on how to transform the sector into an engine for sustainable development.
The pandemic presents a once-in-a-lifetime chance to support a just transition away from fossil fuels turn extractive industries into an engine for a low-carbon, resilient and inclusive future. The green energy transition, accelerated by the crisis, also offers a tremendous opportunity to create new jobs, redress social and environmental inequities and support developing countries, many of which are rich in the materials needed for the renewables revolution.
This roundtable concluded a series of five regional roundtables held over the past several months in collaboration with the UN Regional Economic Commissions, with support from UNDP, UNCTAD, DESA, and UNEP. It featured high-level participation by Heads of State and Government, the Secretary-General and Deputy-Secretary General of the United Nations, the Executive Secretaries of the Regional Economic Commissions and key stakeholders from the private sector, civil society and academia.
Participants addressed how to seize the opportunity to identify and implement key partnerships, instruments and policies to ensure that extractive industries better serve sustainable development objectives, including on climate action. The Secretary-General’s policy brief with concrete proposals to inform the event was released prior to the Global Roundtable.